Shares of Editas Medicine (NASDAQ:EDIT) traded down 8.2% on Friday . The stock traded as low as $34.29 and last traded at $34.85. 2,143,039 shares were traded during trading, an increase of 47% from the average session volume of 1,460,631 shares. The stock had previously closed at $37.98.
Several analysts have recently weighed in on the company. BidaskClub upgraded Editas Medicine from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Tuesday. Chardan Capital reduced their price target on Editas Medicine from $72.50 to $55.00 and set a “buy” rating on the stock in a report on Tuesday. ValuEngine upgraded Editas Medicine from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. Finally, Morgan Stanley restated an “equal weight” rating and set a $43.00 price target (up from $28.00) on shares of Editas Medicine in a report on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $46.14.
The company has a quick ratio of 11.71, a current ratio of 11.71 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.75 billion, a P/E ratio of -11.69 and a beta of 3.62.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Thursday, May 3rd. The company reported ($0.67) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.82) by $0.15. The company had revenue of $3.90 million for the quarter, compared to analyst estimates of $4.04 million. Editas Medicine had a negative return on equity of 58.73% and a negative net margin of 707.98%. The firm’s quarterly revenue was up 473.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.85) earnings per share. equities research analysts predict that Editas Medicine will post -3 EPS for the current fiscal year.
In related news, CFO Andrew A. F. Hack sold 6,000 shares of Editas Medicine stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $39.43, for a total value of $236,580.00. Following the transaction, the chief financial officer now directly owns 6,000 shares of the company’s stock, valued at $236,580. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Katrine Bosley sold 9,134 shares of Editas Medicine stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $45.00, for a total value of $411,030.00. Following the completion of the transaction, the insider now directly owns 1,318,631 shares in the company, valued at $59,338,395. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,133 shares of company stock worth $3,001,893. 19.40% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Global Thematic Partners LLC lifted its stake in shares of Editas Medicine by 8.7% in the fourth quarter. Global Thematic Partners LLC now owns 614,052 shares of the company’s stock worth $18,869,000 after acquiring an additional 49,011 shares during the period. Carnegie Capital Asset Management LLC acquired a new position in Editas Medicine in the fourth quarter valued at approximately $1,452,000. Nisa Investment Advisors LLC lifted its stake in Editas Medicine by 221.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 71,400 shares of the company’s stock valued at $2,194,000 after buying an additional 49,200 shares during the period. D.A. Davidson & CO. acquired a new position in Editas Medicine in the fourth quarter valued at approximately $267,000. Finally, Creative Planning lifted its stake in Editas Medicine by 155.5% in the fourth quarter. Creative Planning now owns 23,525 shares of the company’s stock valued at $723,000 after buying an additional 14,318 shares during the period. 62.98% of the stock is currently owned by institutional investors.
About Editas Medicine
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
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